Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1887-04-08


by any such corporation.
SEC. 4. That all property acquired,
held, or owned in violation of the
provisions of this act shall be for
feited to the United States, and it
shall be the duty of the Attorney
General to enforce every such forfeit.
ure by bill in equity or other proper
process. And in any suit or proceed.
ing that may be commenced to en-
force the provisions of this act. it
shall be the duty of the court to de-
termine the very right of the matter
without regard to matters of form,
joinder of parties, multifariousness,
or other matters not affecting the sub.
stantial rights either of the United
States or of the parties concerned in
any such proceeding arising out of
the matters in this act mentioned.
Approved, March 8, 1887.
Tho foregoing "Act Of Congress, -
which became a law of the land by
the approval Of the President the day
before the last of the late session, is
entitled to more than passing cons,d-
GRAFTON, in view of its probable effects
on mining IN the Territories.
The present time is one of activity
and interest in mining promotion and
investment across the sea, especially
in London, where a number of tran.
sactions, involving valuable American
mining properties and large sums of
English capital, are just maturing.
The writer, with knowledge of
the facts, makes it as moderate esti-
mate that sales to the amount of
$lO,0O0,O0O on mining property, in
Idaho Territory alone, have been ne
gotiated in England and Scotland
within the past year, not yet entirely
copsummated.
The possible serious consequences
of this law will hence readily occur.
And it will seem to be strike at our
most vital mining interests, which de-
pend upon capital for development,
which capital is and should be well
come from any source, as all familiar
with mining enterprises will readily
concede.
Mining for the precious metals,
while a strictly legitimate business
when properly conducted, is, however,
one of ventures and more than aver
age business risks. And experience
has proven that the process Of devel.
opment of mineral resources, and ex-
penditure incurred in such pursuit,
has told more to the benefit of mining
regions and communities than to the
capitalists and investors, even where
the latter realize on investments and
succeed. Uninhabited and barren
localities are peopled, towns and cities
built up. and great good and prosper.
ity ihures to great numbers. No
matter from what sources the capital
has been derived, it has gone in our
land to the development Of loyal
American communities, and the i'm
mediate benefit of our citizens in the
first instance.
There can be no reasonable objec
ton urged to foreign investment in
our mines. On the contrary, it is
what we most desire, and in SO tar as
this law is bar thereto, it is a detri-
ment to material interests aud a mis-
take.
The writer, being recently in Wash
| ington, took occasion to interview
and consult various heads of depart.
ments in the national government,
Senators, and Members of Congress,
as to the scope and effect of this act.
Mr.. Payson, OF Illinois, the author of
the bill, frankly admitted that he had
no special knowledge on mining mat
tiers, and that the object of the bill
was to prevent large holdings of agri
cultural and grazing lands by non
resident and alien parties and corpo-
rations, a move that in general is to
be commended the establishment of
such holdings, in the nature of small
dukedoms and principalites on our
domains, owned and controlled BY
aliens, being unquestionably foreign
to the spirit of our American lpstitu-
tons All, however, in the main,
concur that the effect of the bill is in.
furious to mining interests in the Ter
ritories and to be regretted, and opine
that had the objection been urged, an
exception as to mining property would
doubtless have been made.
The question will occur as to the
validity of such legislation. Can gov
ernment, after selling and granting
realty by letters patent to party and
assigns, say to a subsequent grantee,
1--WE did not intend that you should
acquire, hold, or own this property.
So we will take it back, give you
nothing, and sell it again to some one
else?" Statesmen and lawyers agree
that Congress can legislate to such
effect. Not, however, to a retroactive
extent, nor as effecting existing and
pending contracts. 1t is, moreover,
a mooted question as to whether
leases for long term might not avail
I